Explain the chain the of effects on demand , supply and price of a commodity cause by a leftward shift of its demand curve. Use diagram.

Explain the chain effects on demand, supply and price of a commodity caused by a leftward shift of a demand curve. Use diagram. OR A product market is in equilibrium. Suppose the demand for the product decreases. What changes will take place in the market? Use diagram.

A fall in demand or rise in supply of a commodity :